Keefe, Bruyette & Woods Increases Voya Financial (NYSE:VOYA) Price Target to $83.00

Voya Financial (NYSE:VOYA) had its price target raised by Keefe, Bruyette & Woods from $80.00 to $83.00 in a report released on Tuesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the asset manager’s stock.

Several other equities analysts also recently weighed in on the company. UBS Group decreased their target price on Voya Financial from $94.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Royal Bank of Canada decreased their target price on Voya Financial from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Bank of America restated an “underperform” rating and issued a $71.00 target price (down previously from $79.00) on shares of Voya Financial in a research report on Friday, March 28th. JPMorgan Chase & Co. decreased their target price on Voya Financial from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Finally, Barclays set a $70.00 target price on Voya Financial in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $82.08.

Voya Financial Stock Up 0.1%

Shares of VOYA opened at $68.91 on Tuesday. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59. Voya Financial has a 12 month low of $52.43 and a 12 month high of $84.30. The stock’s 50 day moving average is $62.83 and its two-hundred day moving average is $69.96. The firm has a market cap of $6.63 billion, a P/E ratio of 11.26, a PEG ratio of 0.48 and a beta of 0.95.

Voya Financial (NYSE:VOYA) last issued its quarterly earnings data on Tuesday, May 6th. The asset manager reported $2.15 EPS for the quarter, beating the consensus estimate of $1.59 by $0.56. Voya Financial had a return on equity of 14.10% and a net margin of 8.29%. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $1.77 earnings per share. Voya Financial’s quarterly revenue was down 4.0% compared to the same quarter last year. Analysts predict that Voya Financial will post 8.39 earnings per share for the current fiscal year.

Voya Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, May 27th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.80 dividend on an annualized basis and a yield of 2.61%. Voya Financial’s payout ratio is 33.96%.

Hedge Funds Weigh In On Voya Financial

Institutional investors have recently added to or reduced their stakes in the stock. Wealthspire Advisors LLC boosted its position in shares of Voya Financial by 5.3% during the 4th quarter. Wealthspire Advisors LLC now owns 2,967 shares of the asset manager’s stock worth $204,000 after acquiring an additional 148 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of Voya Financial by 17.0% during the 4th quarter. Brooklyn Investment Group now owns 1,166 shares of the asset manager’s stock worth $80,000 after acquiring an additional 169 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Voya Financial by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 3,307 shares of the asset manager’s stock worth $228,000 after acquiring an additional 177 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Voya Financial by 81.0% during the 4th quarter. Jones Financial Companies Lllp now owns 409 shares of the asset manager’s stock worth $28,000 after acquiring an additional 183 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Voya Financial by 13.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,532 shares of the asset manager’s stock worth $105,000 after acquiring an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 96.10% of the company’s stock.

Voya Financial Company Profile

Voya Financial, Inc engages in the provision of workplace benefits and savings products in the United States and internationally. The company operates through three segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees.